HDFC Used Car Loan

I have read the Privacy Policy & Agree to Terms & Conditions and authorize Dialabank & its partner institutions to Call or SMS me with reference to my application.

Buy your dream Car

Rates as low as 7.35%*
Up to 100% Funding
Doorstep Service
Hassle-free Disbursal
Unbiased Experts Advice

HDFC Used Car Loan Key Features

HDFC Used Car Loan Interest Rate 7.50%
Min Loan Amount ₹ 100,000
Max Loan Amount
(Loan to Value)
Loan up to 100% of Market Price
Loan Tenure 1 year to 7 years
Lowest EMI / Lac ₹ 1,622
Minimum Net Monthly Income ₹ 25,000
Minimum ITR for Self Employed ₹ 300,000
Age Criteria Salaried: 21 years to 60 years
Self Employed: 21 years to 65 years
Types of Cars For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs).
Processing Fee 2%(max Rs. 5,000)
Foreclosure Charges Not allowed for 6 months; 6% fee from 7-12 months, 5% from 13-24 months, 3% after 24 months
Basic Documentation ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation

About HDFC Used Car Loan

HDFC Bank is the largest competitor in providing the Car Loan. HDFC Bank provides car loans for the new and used cars as well. You can avail up to 100% finance for used cars from HDFC Bank. Minimum documentation is required for availing a car loan. You can get instant disbursal.

HDFC Bank provides Loans for used cars at an affordable rate of interest to the customer for buying their dream car whether new or used. This loan is an easily available loan which can be acquired by anyone even by ones who have a slightly low credit/CIBIL score.

Advantages of HDFC Used Car Loan

HDFC Used Car Loan

HDFC Used Car Loan Eligibility

Salaried Individual
  • Age – 21-60 years of age
  • Net Monthly Income – should be minimum ₹ 25000
  • Employment Duration – Minimum 1 year
  • Income Eligibility – Depends on Form 16 and Salary Slip
Self-Employed Individuals
  • Age – 21-65 years of age
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • Income Eligibility – Depends on the latest Income Tax Returns
Self-Employed Non-Individuals (Company/Partnership)
  • Minimum ITR  – Rs. 4 lakh, Rs. 18 lakhs (for selected car models)
  • Employment Duration – Minimum 3 years
  • The applicant has to present IT returns and audited financials of 2 years with Calculated Income.
Priority Customers
  • Applicant should have a vintage of at least 6 months
  • Average Quarterly Balance – Minimum Rs.1 lakh for last 2 quarters
  • Maximum Loan Amount – 3 X Average Quarterly Balance of Last 2 quarters

HDFC Used Car Loan Interest Rate, Fees and Charges

Charges New Car Loan Used Car Loan
Interest Rate 7.50%. 12.75% – 15.50%
Processing fee 0.40% (Max Rs. 10,000) 2% (Min Rs. 5,000)
Issuance of Duplicate Repayment Schedule Charges Rs.500 per instance Rs.500 per instance
Foreclosure Charges Up to 6% of the principal outstanding Up to 6% of the principal outstanding
Penal Interest 2% 2%
Part Payment charges Up to 6% of the paid amount Up to 6% of the paid amount
Cheque/Instrument Swap Charge Rs.500 per instance Rs.500 per instance
Documentation Charge Rs.630 per instance Rs.630 per instance
Issuance of Duplicate No Dues Certificate Charges Rs.500 per instance Rs.500 per instance
Registration Certification Collection Charge Rs.200 per instance Rs.200 per instance
Cheque Bounce/Instrument Return Charges Rs.500 per instance Rs.500 per instance
Issuance of Duplicate Statement Charges Rs.100 per instance Rs.100 per instance
Loan Cancellation/Re-booking Charges Rs.1,000 per instance Rs.1,000 per instance
Issuance of Credit Report Rs.50 per instance Rs.50 per instance

HDFC Used Car Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof

(Any 1)

Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof

(Any 1)

Birth Certificate
Passport
Driving Licence
PAN
Signature Proof

(Any 1)

Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Work Experience Certificate
ITR of Form 16
Salary Slip with Joining Date
Appointment Letter
Letter of Relieving

Self-Employed Individuals

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Date of Birth Proof (Any 1) Birth Certificate
Passport
Driving Licence
PAN
Signature Proof (Any 1) Passport
Bankers Verification
PAN
Income Proof Latest Form 16 and Salary Slips
Bank Statement Bank statement of last 3 months
Employment Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Business Proof Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills

Self-Employed Non-Individuals:

1. Partnership Firms/Societies

Category Documents Required
Identity Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Address Proof (Any 1) Driving Licence
Aadhaar Card
Passport
PAN
Voter ID
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents Authority Letter/PAN cards

2. Private Limited/Limited Companies

Category Documents Required
Identity Proof Copy of Latest MOA
Copy of Incorporation
Copy of Latest AOA
Address Proof (Any 1)
Current Account Statement
Telephone Bill
Electricity Bill
Shop & Establishment Act Certificate
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Registered Lease Document with other utility bills
Income Proof Audited Balance Sheet
P&L Account and ITR for the previous 2 years
Bank Statement Bank statement of last 3 months
Business Continuity Proof Shop & Establishment Act Certificate
Current Account Statement
SSI or MSME Registration Certificate
Sales Tax or VAT Certificate
Additional documents
List of Directors and Shareholding Partners
PAN Card
Board Resolution
Certificate of Commencement of Business for Ltd. Co.

HDFC Used Car Loan EMI Calculator

An applier has the option to know the EMI’s before availing a Car Loan. Thus, you can check by click on the given link:

Car Loan EMI Calculator

HDFC Used Car Loan Types

HDFC Bank offers different types of car loans to its customers. You have the option of opting the offer which suits your the best. The following types of Car Loans offered by the HDFC Bank:

  1. New Car Loan –  Those who want to buy a new car, this is the venture for you. You can take HDFC Used Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
  2. Used Car Loan – If you wish to buy a used car then you can choose this plan which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
  3. Loan Against Car – You can choose this scheme if you have need of urgent funds where you can keep your cars as collateral with the bank where you can get up to 100% of your car’s value.

HDFC Used Car Loan Pre Calculated EMI

How to Apply for HDFC Used Car Loan?            HDFC Used Car Loan

  1. Visit Dialabank and fill a simple form.
  2. Our Relationship Manager will call you to guide you throughout the process.
  3. You can compare various offers from different banks and choose the one which suits your needs.
  4. You can easily apply for a Loan for Used Car through Dialabank and enjoy best offers.

HDFC Used Car Loan for Top Selling Cars

Other Available Products from HDFC Used

HDFC Personal Loan HDFC Gold Loan HDFC Home Loan
HDFC Credit Card HDFC Two Wheeler Loan HDFC Education Loan

FAQs for HDFC Used Car Loan

✅ What is HDFC Used Car Loan?

HDFC Used Car Loan is a car loan offered to you for buying a car whether a new or used.

✅ How can I get a Used Car Loan from HDFC?

You can get a used car loan from HDFC by visiting the nearest branch of HDFC. You will get satisfaction to apply from anywhere.

✅ How does HDFC Used Car Loan work?

HDFC offers for a used car loan at attractive interest rates. You can get a car loan easily and quickly. HDFC also provides flexible loan tenure duration.

✅ What is the Used Car Loan Interest Rate in HDFC?

The interest rate in HDFC for a used car loan starts at 12.75%.

✅ How to Check Used Car Loan status in HDFC?

You must visit the IDBI Bank branch to examine your used car loan status. You can also use the net-banking facility of HDFC.

✅ How to calculate Used Car Loan interest in HDFC?

For the calculation of your used car loan interest in HDFC, the following information is required:

  • Loan amount
  • Interest Rate
  • Loan tenure

You can calculate interest through EMI calculator available at Dialabank’s website.

✅ What is the maximum loan amount I can avail on Used Car Loan from HDFC?

You can avail a maximum loan amount for a used car loan from HDFC is up to 100% funding of the market price.

✅ What is the loan tenure of HDFC Used Car Loan?

The loan tenure period for a used car loan from HDFC up to 7 years.

✅ Can I get 100% Car Loan from HDFC Used?

You can get loan up to 100% of the market price of a used car loan from HDFC.

✅ How much processing fee is applicable on HDFC Used Car Loan?

HDFC charged a processing fee is 2%  or maximum Rs. 5,000 for getting a used car loan.

✅ What are the EMI options available on HDFC Used Car Loan?

The EMI options available on HDFC Used Car Loan are Step-up and Balloon EMI.

✅ What are the charges for Prepayment in HDFC Used Car Loan?

HDFC prepayment charges are up to 6% of the principal outstanding.

✅ Can I get a top-up loan on my existing HDFC Used Car Loan?

Yes, you can get a top-up loan on your existing HDFC Used car loan. Also, get a top-up car loan by visiting the online platform of Dialabank and submit a form online.

✅ Do I need to provide a guarantor to avail a used car loan from HDFC?

No, you do not need a guarantor for getting a used car loan from HDFC.

✅ How to get the HDFC Used Car Loan Statement?

For getting a used car loan statement of HDFC, you can use HDFC’s mobile banking app. You can visit the nearby branch of HDFC.

✅ How to pay HDFC Used Car Loan interest online?

You can pay your car loan interest through the net -banking services of HDFC.  If you want a low-interest car loan, you must visit Dialabank online and fill a form there.

✅ What if I can’t pay the interest on HDFC Used Car Loan for 3 months?

If you can’t pay the interest on HDFC for Used Car Loan for 3 months, then it will be added to the outstanding loan amount and repayment charges will redraft.

✅ How can I apply for EMI Moratorium on HDFC Used Car Loan?

You can apply for EMI Moratorium on HDFC for Used Car Loan through visiting the nearby branch of HDFC or you can submit a request through an email. Also, if you want relief for the balance duration, you must apply through Dialabank.

✅ What is the number for HDFC Used Car Loan agent?

The number for HDFC Car Loan agent is 1800-258-3838.

✅ Can I close HDFC Used car loan online?

You can close your used car loan from HDFC by using the net-banking page of HDFC. You have to log in with your details on the net -banking page and pay your car loan.

✅ What is HDFC Used Car Loan Customer Care Number?

The customer care number of HDFC for used car loan queries is 1800-258-3838.

✅ How can I get NOC from HDFC for a used car loan?

You can get a used car loan NOC from HDFC when you clear your car loan amount.

Table of Contents

Menu